Understanding Howard County Property Tax
Property taxes are a major source of revenue for many counties, including Howard County, Maryland. The amount of property tax collected in a county is determined by the assessed value of all taxable property in that county. Howard County collects property tax from its residents for the purpose of funding public services such as schools, police, fire, and other government services. Property tax is calculated by multiplying the assessed value of the property by the applicable tax rate.
How Property Tax is Calculated in Howard County
In Howard County, property tax is calculated by multiplying the assessed value of the property by the applicable tax rate. This rate is set by the local government and can vary from year to year. The assessed value is determined by the County’s Department of Assessment and Taxation and includes factors such as the property’s age, condition, location, and size. Property taxes are due on June 30 of each year, and the County offers a variety of payment options for those unable to pay their taxes in full on the due date.
Exemptions and Credits for Howard County Property Tax
Howard County offers a number of exemptions and credits to reduce the amount of property tax owed by homeowners. These exemptions and credits include a homestead exemption, a veteran’s exemption, a senior citizen’s exemption, a disabled veteran’s exemption, a disabled homeowner’s exemption, a disabled dependent exemption, and a disabled person’s exemption. These exemptions and credits can significantly reduce the amount of property tax owed by a homeowner.
Howard County Property Tax Appeals
If a homeowner believes that their property has been over-assessed, they may appeal the assessment to the State Department of Assessments and Taxation. The homeowner must provide evidence to support their claim that their property is not worth the assessed value. The appeal must be filed within 45 days of the date the assessment was issued, and the homeowner must provide evidence to support their claim. The State Department of Assessments and Taxation will review the evidence and make a determination on the appeal.
Payment Options for Howard County Property Tax
Howard County offers several payment options for property tax. Homeowners can pay their taxes in full by check or money order. Alternatively, they may pay their taxes in four installments. The first installment is due on June 30, the second installment is due on September 30, the third installment is due on December 30, and the fourth installment is due on March 31. Homeowners may also take advantage of a payment plan offered by the County, which allows them to pay their taxes in smaller monthly payments over a period of time.
Penalties for Late Payment of Howard County Property Tax
If a homeowner fails to pay their property tax by the due date, they will be subject to a penalty. The penalty is 1.5% of the amount owed for every month the tax is late, up to a maximum of 12%. Interest will also accrue on the unpaid balance. If the homeowner fails to make the payments required by the payment plan, they will be subject to the same penalties and interest.
Contact Information for Howard County Property Tax
Homeowners who have questions about their property taxes can contact the Howard County Department of Assessment and Taxation. The department can be reached by phone at 410-988-3330 or by email at taxation@howardcountymd.gov. The department’s website also provides information about property taxes, including payment options and exemptions.
Conclusion
Property taxes are a major source of revenue for Howard County, and the amount of property tax owed is determined by the assessed value of the property. The County offers a number of exemptions and credits to reduce the amount of property tax owed, and offers several payment options for those unable to pay their taxes in full on the due date. If a homeowner fails to pay their property taxes by the due date, they will be subject to a penalty. Homeowners who have questions about their property taxes can contact the Howard County Department of Assessment and Taxation.
